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South Bay Market Intelligence Report Vol. 5 | April 2019 Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate community This Sales Monthly Report monitors El Segundo

Lomita

Gardena

Manhattan Beach

Hawthorne

North Redondo

Hermosa Beach

South Redondo

Lawndale

Torrance

RE/MAX Estate Properties 650+ Local Agents • 16 Offices • Luxury Residential Commercial Investment Division • International

PAM JENSEN t: (310) 612-5308 e: pamjensen@eplahomes.com w: www.southbayforsale.com DRE# 00951875


Market Intelligence Glossary Median Price:

Median Price is the price of the property that falls in the middle of the total number of properties Sold in any given month.

Months Supply Of Inventory:

This is calculated by dividing the total number of homes for sale in a particular month by the number of homes that sold in that month.

Average Price Per Square Foot:

Found by taking the price of each property and dividing that by its Properties Pending sale: The number of properties placed in escrow during any given square footage, then finding the average for all properties Sold. month.

Properties for Sale: The number of properties that are for sale on the market.

Properties Under Contract:

The number of properties with an accepted offer however they have not closed.

Properties Sold: The number of properties that SOLD and transfered ownership.

DAYS On Market (Closed Sales):

The average number of days that properties were on ACTIVE on the market.

Absorption rate (closed sales):

This is the rate at which properties sell. It is the number of properties sold divided by the total number of properties for sale.

Report Notes:

Reports published in Apr. 2019 are based on data available at the end of Mar. 2019. All reports presented are based on data supplied by the CRMLS or TheMLS and Trendgraphix. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Information deemed reliable but not guaranteed.


SouthBay Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the SouthBay. El Segundo..............................................................4 Gardena..................................................................5 Hawthorne..............................................................6 Hermosa Beach......................................................7 Lawndale................................................................8 Lomita.....................................................................9 Manhattan Beach.................................................10 Redondo Beach....................................................11 Torrance................................................................12


El Segundo MARCH Stats Key Facts:

$1,320,000

Median Sold Price

$1,357,000

Average Sold Price

28

MAR. MAR. % 2018 2019 Change

Median Price (in $,000)

$1,214

$1,320

9%

Average Price Per Sq. Foot

$710

$662

-7%

Properties for Sale

12

28 133%

Properties Pending Sales

11

17 55%

Properties Sold

14

15 7%

Days on Market (Sold Homes)

34

38 12%

Monthly Supply of Inventory

0.9

1.9 111%

Absorption Rate (closed sales) 116.7

Listings for Sale

17

Listings Pending

Average & Median Price $1,800

$3,500 $1,600 $1,357

$1,400 $3,000

15

Listings Sold

53.6 -54%

$1,200

$1,320

$2,593

$2,500 $1,000 $2,000 $800 $1,655

38

Days On Market

$600 $1,500 $400

$1,000 $200 $$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average


Gardena MARCH Stats Key Facts:

$545,000

Median Sold Price

$552,000

Average Sold Price

68

MAR. 2018

MAR. 2019

% Change

Median Price (in $,000)

$529

$545

3%

Average Price Per Sq. Foot

$359

$397

11%

Properties for Sale

31

68 119%

Properties Pending Sales

38

42 11%

Properties Sold

39

27 -31%

Days on Market (Sold Homes) 37

38 3%

Monthly Supply of Inventory

2.5 213%

0.8

Absorption Rate (closed sales) 125.8 39.7 -68%

Listings for Sale

Average & Median Price $600

42

Listings Pending

$580 $3,500 $552 $560 $3,000

27

Listings Sold

$545

$2,593

$540 $2,500 $520

$2,000 $1,655

$500

38

Days On Market

$1,500 $480 $1,000 $460 $500 $440 Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average


Hawthorne MARCH Stats Key Facts:

$687,000

Median Sold Price

$713,000

Average Sold Price

67

MAR. MAR. % 2018 2019 Change

Median Price (in $,000)

$623

$687

10%

Average Price Per Sq. Foot

$427

$471

10%

Properties for Sale

29

67 131%

Properties Pending Sales

38

34 -11%

Properties Sold

34

31 -9%

Days on Market (Sold Homes)

19

30 58%

Monthly Supply of Inventory

0.9

2.2 144%

Absorption Rate (closed sales) 117.2

46.3 -60%

Listings for Sale

34

Listings Pending

Average & Median Price $800

$3,500

$713 $687

$700

$3,000 $600

31

$2,593 $2,500 $500

Listings Sold $2,000

$400

$1,655

$300

30

Days On Market

$1,500 $200

$1,000 $100

$500

$-

$Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

Median

Average


Hermosa Beach MARCH Stats Key Facts:

$1,613,000 Median Sold Price

$1,671,000

Average Sold Price

49

MAR. 2018

MAR. 2019

% Change

Median Price (in $,000)

$1,728

$1,613

-7%

Average Price Per Sq. Foot

$829

$877

6%

Properties for Sale

51

49 -4%

Properties Pending Sales

16

21 31%

Properties Sold

18

18 0%

Days on Market (Sold Homes) 43

63 47%

Monthly Supply of Inventory

2.7 -4%

Absorption Rate (closed sales) 35.3 36.7 4%

Listings for Sale

21

Listings Pending

2.8

Average & Median Price $3,500

$3,500

$3,000

$3,000

$2,500

18

Listings Sold

$2,593 $2,500

$1,671

$2,000

$1,613

$2,000

$1,500

63

Days On Market

$1,655

$1,500

$1,000

$1,000

$500

$500

$-

$-

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

Median

Average


Lawndale MARCH Stats Key Facts:

$601,000

Median Sold Price

$560,000

Average Sold Price

14

Median Price (in $,000)

$447

$601

34%

Average Price Per Sq. Foot

$398

$474

19%

Properties for Sale

15

14 -7%

Properties Pending Sales

10

14 40%

Properties Sold

12

8 -33%

Days on Market (Sold Homes)

13

26 100%

Monthly Supply of Inventory

1.3

1.8 38%

Absorption Rate (closed sales)

80

57.1 -29%

Listings for Sale

14

Listings Pending

MAR. MAR. % 2018 2019 Change

Average & Median Price $700

$560 $601

$3,500 $600

$3,000

$500

8

Listings Sold

$2,593 $2,500

$400

$2,000 $300 $1,655

26

Days On Market

$200 $1,500

$100 $1,000 $-

$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average


Lomita MARCH Stats Key Facts:

$655,000 Median Sold Price

$656,000

Average Sold Price

23

MAR. 2018

Listings Pending

$585

$655

12%

Average Price Per Sq. Foot

$411

$438

7%

Properties for Sale

11

23 109%

Properties Pending Sales

16

15 -6%

Properties Sold

15

12 -20%

Days on Market (Sold Homes) 30

20 -33%

Monthly Supply of Inventory

1.9 171%

0.7

Absorption Rate (closed sales) 136.4 52.2 -62%

Average & Median Price $3,500 $800 $656

$700

$655

$3,000

12

Listings Sold

% Change

Median Price (in $,000)

Listings for Sale

15

MAR. 2019

$600

$2,593

$2,500 $500

$2,000 $400 $1,655

20

Days On Market

$300

$1,500

$200

$1,000 $100

$500

$-

$-

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

Median

Average


Manhattan Beach MARCH Stats Key Facts:

$2,195,000

Median Sold Price

$2,612,000

Average Sold Price

113

MAR. MAR. % 2018 2019 Change

Median Price (in $,000)

$2,250

$2,195

-2%

Average Price Per Sq. Foot

$1,069

$1,127

5%

Properties for Sale

80

113 41%

Properties Pending Sales

45

50 11%

Properties Sold

38

39 3%

Days on Market (Sold Homes)

41

46 12%

Monthly Supply of Inventory

2.1

2.9 38%

Absorption Rate (closed sales) 47.5

34.5 -27%

Listings for Sale $4,000

50

Listings Pending

Average & Median Price

$3,500 $3,500 $3,000 $3,000

$2,612

$2,500

39

Listings Sold

$2,593 $2,195

$2,500 $2,000 $2,000 $1,500

46

Days On Market

$1,655

$1,500 $1,000 $500 $1,000 $$500

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average


Redondo Beach MARCH Stats Key Facts:

MAR. 2018

Median Price (in $,000)

$973,000 Median Sold Price

$1,003,000

Average Sold Price

106

Average Price Per Sq. Foot

MAR. 2019

% Change

$1,050

$973

-7%

$587

$596

2%

Properties for Sale

85

106 25%

Properties Pending Sales

85

92 8%

Properties Sold

65

78 20%

Days on Market (Sold Homes) 34

44 29%

Monthly Supply of Inventory

1.4 8%

1.3

Absorption Rate (closed sales) 76.5 73.6 -4%

Listings for Sale

Average & Median Price $1,400

92

Listings Pending

$3,500 $1,200 $1,003 $973

$3,000 $1,000

78

$2,593 $2,500 $800

Listings Sold $2,000 $600 $1,655

44

Days On Market

$400 $1,500 $200 $1,000

$500$-

Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average


Torrance MARCH Stats Key Facts:

$810,000

Median Sold Price

$830,000

Average Sold Price

111

MAR. MAR. % 2018 2019 Change

Median Price (in $,000)

$790

$810

3%

Average Price Per Sq. Foot

$731

$526

-1%

Properties for Sale

78

111 42%

Properties Pending Sales

95

105 11%

Properties Sold

79

69 -13%

Days on Market (Sold Homes)

17

31 82%

Monthly Supply of Inventory

1

1.6 60%

Absorption Rate (closed sales) 101.3

Listings for Sale

62.2 -39%

Average & Median Price $1,000

105

Listings Pending

$830

$900 $3,500

$810

$800

$3,000 $700

69

Listings Sold

$2,593

$600 $2,500 $500

$2,000 $400

31

Days On Market

$1,655

$300 $1,500 $200 $1,000 $100

$500 $Mar. Apr. May Jun. July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. 2018 2018 2018 2018 2018 2018 2018 2018 2018 2018 2019 2019 2019

$-

Median

Average


RE/MAX Estate Properties • 650+ Local Agents • 16 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212

HERMOSA BEACH 2601 Pacific Coast Hwy. Hermosa Beach, CA 90254

WEST LOS ANGELES 10931 W. Pico Blvd. Los Angeles, CA 90064

SOUTH BAY 23740 Hawthorne Blvd., 2nd Flr Torrance, CA 90505

MARINA DEL REY / VENICE 124 Washington Blvd. Marina Del Rey, CA 90292

REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277

Silicon BEACH 7131 W. Manchester Ave. Los Angeles, CA 90045

MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274

EL SEGUNDO 402 Main Street El Segundo, CA 90245

SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90274

MANHATTAN BEACH-DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266

MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275

MANHATTAN BEACH 1040 Manhattan Beach Blvd. Manhattan Beach, CA 90266

SAN PEDRO COASTLINE 1416 W 25th Street San Pedro, CA 90732

RE/MAX COMMERCIAL & INVESTMENT REALTY D OW N TOW N LOS ANG EL ES | SOUT H BAY| www.REMAXC IR.com

LOS ANGELES 550 South Hope Street, Suite 500 Los Angeles, CA 90071

SOUTH BAY 450 Silver Spur Rd. Rolling Hills Estates, CA 90275


Notes:


Notes:


PAM JENSEN t: (310) 612-5308 e: pamjensen@eplahomes.com w: www.southbayforsale.com DRE# 00951875

Profile for RE/MAX Estate Properties

Pam Jensen Market Intelligence Report South Bay  

Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate communit...

Pam Jensen Market Intelligence Report South Bay  

Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate communit...